Explain the difference between absolute and comparative advantage.Explain how exchange rates work. List some exchange rates between the U.S. and
some other countries.What are the
pros and cons of having a weak dollar? ORIGINAL ANSWERS ARE THE BEST!
Comparative advantage at producing something if it can be produce it at lower cost than anyone else. Absolute advantage refers to the ability of a individual, organization and/or country to produce more goods or services than competitors. The main difference is a joint venturing partnership.
An exchange rate is the amount one currency is worth in another at a given time and affected by international exchange markets.